Shanghai Electric Group Company (HK:2727) has released an update.
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Shanghai Electric Group Company has decided to terminate its investment in Ningbo Hi-Firm Environmental Protection due to changes in market conditions and a decrease in profitability. The company plans to sell the land use rights and construction in progress through a public tender, aiming to control further financial losses. The decision reflects the challenges in the hazardous waste disposal market in Zhejiang Province, which has seen increased competition and reduced prices.
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